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Medicis Pharmaceutical Corporation
Medicis and Teva Announce Settlement Agreement
SCOTTSDALE, Ariz. and JERUSALEM, March 18, 2009 (GLOBE NEWSWIRE) -- Medicis (NYSE:MRX) and Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA) (Teva) today announced they have agreed to terminate all legal disputes between them relating to SOLODYN(R) (minocycline HCl, USP) Extended Release Tablets. Pursuant to an agreement entered into between the parties, Teva has confirmed that Medicis' patents relating to SOLODYN(R) are valid and enforceable, and cover Teva's activities relating to its generic product under Abbreviated New Drug Application (ANDA) #65-485. As part of the settlement, Teva has agreed to immediately stop all further shipments of generic SOLODYN(R). Medicis has agreed to release Teva from liability arising from any prior sales of its generic SOLODYN(R), which were not authorized by Medicis.